NEW YORK ( TheStreet) -- Shares of GMX Resources Inc (NYSE: GMXR) were gapping down Thursday morning with an open price 12% lower than Wednesday's closing price. The stock closed at $2.50 Wednesday and opened today's trading at $2.20. The average volume for GMX has been 1.6 million shares per day over the past 30 days. GMX has a market cap of $135.4 million and is part of the basic materials sector and energy industry. Shares are down 54.7% year to date as of the close of trading on Wednesday. GMX Resources Inc. operates as an independent oil and natural gas exploration and production company primarily in the United States. TheStreet Ratings rates GMX as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally weak debt management, disappointing return on equity and generally disappointing historical performance in the stock itself. You can view the full GMX Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.